According to the commission,the report which was published  by various media organizations lon July 15, 2026, misrepresented the legal status of Niger Insurance Plc, whose operating licence was revoked in 2022.

The commission disclosed this in a statement made aviation to BusinessTodayNG  that it remains the only Federal Government agency established by law and vested with the exclusive statutory powers to license, regulate, and cancel the licence of any insurance institution in Nigeria.

It said due to the insolvent state of affairs of Niger Insurance and its persistent inability to pay verified insurance claims, NAICOM, in the exercise of its statutory mandate to protect policyholders, cancelled the its licence in 2022. Consequently, Otunba Sanya Ogunkuade, Esq. was appointed by NAICOM as the Receiver/Liquidator of the Company.

NAICOM added that “Following the cancellation of the licence, some former directors of the Company instituted a suit at the Federal High Court in 2022, purposely to challenge the cancellation of the Company’s licence and the appointment of the Receiver/Liquidator.

“The  suit was struck out by the Federal High Court on 31 January 2023 on the grounds that the Plaintiffs lacked the power to institute the suit after the appointment of the Receiver/Liquidator, whose appointment had been duly registered by the Corporate Affairs Commission (CAC).

“The decision of the Federal High Court validated the cancellation of the Company’s licence and the appointment of the Receiver. An appeal by the Plaintiffs to the Court of Appeal by the Plaintiffs in the above suit was also struck out on 27th February 2025 by the Court of Appeal. A further appeal by the Plaintiffs to the Supreme Court is still pending

It added that an appeal against the judgment was also dismissed by the Court of Appeal on February 27, 2025, while a further appeal remains pending before the Supreme Court.

NAICOM noted that another suit filed by the same group of former directors resulted in a judgment delivered by the Federal High Court on June 5, 2026.

However, the Commission said the judgment is already being challenged at the Court of Appeal, where applications for a stay of execution have also been filed by both NAICOM and the Receiver/Liquidator.

The regulator maintained that the June 2026 judgment cannot override the earlier Court of Appeal decision, which upheld the cancellation of Niger Insurance’s licence.

The Commission also disclosed that some former directors whose names appeared as plaintiffs in the latest suit had written to disclaim any knowledge of the action, alleging that their names were used without their consent.

It further revealed that it has petitioned the Inspector-General of Police over what it described as the unlawful activities of individuals allegedly parading themselves as the management of Niger Insurance Plc.

According to the Commission, the petition seeks to prevent attempts to interfere with or dispose of the company’s assets, which are meant to satisfy legitimate insurance claims and other obligations.

The Commission reiterated that Niger Insurance Plc remains prohibited from underwriting new insurance business and that its affairs continue to be managed exclusively by the Receiver/Liquidator.

The commission also advised the  general public  to distance themselves from any person or group of persons purporting to act for or on behalf of the Company, other than the lawfully appointed Receiver/Liquidator

While reassuring that the company’s licence remains revoked, its former board and management remain dissolved, and the Receiver/Liquidator will continue to administer the company’s assets pending the final winding-up of its affairs.

The post NAICOM Dismisses Niger Insurance Claims, Says Company’s Licence Remains Revoked appeared first on Business Today NG.

The Notice of Appeal was filed on Friday, July 10, 2026 by counsel to the EFCC, Wahab Shittu, SAN.

In the appeal contained in Suit No: FCT/HC/CV/1199/2024, the EFCC expressed dissatisfaction with the “whole of the judgment of the High Court of the Federal Capital Territory, sitting at Maitama, Abuja, Coram: Hon. Justice Peter O. Kekemeke, delivered on the 8th day of July, 2026….”

Specifically, the appeal was hinged on 11 grounds and four different orders. The orders the Commission is seeking in the appeal, are orders allowing the appeal, setting aside the whole of the judgment, dismissing Agunloye’s claim before the trial court in entirety and any other order the court may deem fit to make in the circumstances of the appeal.

Justice Kekemeke had declared in his judgment that the EFCC’s publication on Agunloye was false, defamatory and injurious to the former Minister’s reputation and awarded N10 million in damages against the Commission.

Shittu, in the appeal, also filed a stay of execution of the judgment of the trial court.

No date has been fixed for the hearing of the appeal.

The post N10million Damages: EFCC Appeals Judgment Against Agunloye appeared first on Business Today NG.

The apex court struck out Appeal No. SC/CV/248/2026 after the appellant, Mr Blessing Elujiuba, voluntarily withdrew the case, bringing the challenge to a close.

This decision leaves intact earlier judgments delivered by both the Federal High Court and the Court of Appeal, which had upheld the party’s legal recognition.

The ruling was delivered on May 12, 2026, by a five-member panel of the Supreme Court led by Justice John Inyang Okoro, who noted that the matter was withdrawn without objection from other parties.

The court subsequently dismissed the appeal following its withdrawal, formally ending the proceedings at the apex level of the judiciary.

The case involved the Independent National Electoral Commission (INEC), the Action Peoples Party (APP), and the party’s National Chairman, Uche Kingsley Nnadi.

The initial legal action had sought to force INEC to remove APP from its register on the allegation that it failed to meet constitutional requirements under Section 225A of the 1999 Constitution.

However, earlier rulings had found that APP met the necessary legal conditions for continued registration, citing evidence of electoral participation and victories at local government level.

The courts also upheld the interpretation that fulfilling any of the conditions outlined in Section 225A is sufficient for a political party to retain its registration status.

With all tiers of the judiciary aligned in its favour, APP’s legal standing remains intact, clearing the party to continue preparations for the 2027 elections without any outstanding court challenge.

The post Supreme Court Upholds APP’s Registration, Ends Deregistration Battle Ahead of 2027 Elections appeared first on Business Today NG.